Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions

This paper aims to explore the role of Islamic social ﬁnance and ﬁnancial institutions in contributing towards improving ﬁnancial inclusion through ﬁnancial education among the poor. While there have been a lot of efforts undertaken by ﬁnancial institutions, especially microﬁnance institutions, to a...

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Main Authors:	Arsyianti, Laily Dwi, Kassim, Salina
Format:	Article
Language:	English
Published:	Universiti Sultan Agung, Semarang 2016
Subjects:	HG Finance HG179 Personal finance HT101 Urban groups. The city. Urban sociology
Online Access:	http://irep.iium.edu.my/52253/ http://irep.iium.edu.my/52253/ http://irep.iium.edu.my/52253/1/52253_Improving%20financial%20education%20to%20the%20poor.pdf

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recordtype	eprints
spelling	iium-522532018-05-22T01:08:13Z http://irep.iium.edu.my/52253/ Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions Arsyianti, Laily Dwi Kassim, Salina HG Finance HG179 Personal finance HT101 Urban groups. The city. Urban sociology This paper aims to explore the role of Islamic social ﬁnance and ﬁnancial institutions in contributing towards improving ﬁnancial inclusion through ﬁnancial education among the poor. While there have been a lot of efforts undertaken by ﬁnancial institutions, especially microﬁnance institutions, to achieve the ﬁnancial inclusion agenda, the ﬁnancial inclusion programs would normally require high operational costs which many ﬁnancial institutions would consider them as not commercially viable. The costs then are transferred back to the customers, resulting in the ﬁnancing/ credit cost higher than commercial ﬁnancial institutions. As a result, incidences of bankruptcyincrease when the cost of credit is higher. Thus, ﬁnancial education is essential for average family in managing their day to day ﬁnancial resources. While ﬁnancial institutions keep busy with ﬁnancial inclusion agenda and trying to ﬁnd the best way without disturbing their core business agenda, Islam offers social ﬁnance institution (amil and nadzir) as the solution to this problem. Universiti Sultan Agung, Semarang 2016-07 Article PeerReviewed application/pdf en http://irep.iium.edu.my/52253/1/52253_Improving%20financial%20education%20to%20the%20poor.pdf Arsyianti, Laily Dwi and Kassim, Salina (2016) Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions. International Journal of Islamic Business Ethics, 1 (1). pp. 44-52. http://jurnal.unissula.ac.id/index.php/index/search/authors/view?firstName=Laily&middleName=Dwi&lastName=Arsyianti&affiliation=PhD%20Candidate%2C%20Institute%0D%0Aof%20Islamic%20Banking%20and%0D%0AFinance%2C%20International%0D%0AIslamic%20University%20Malaysia%0D%0Aand%20Lecturer%2C%20Department%20of%0D%0AEconomics%2C%0D%0ABogor%20Agricultural%0D%0AUniversity&country=
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG Finance HG179 Personal finance HT101 Urban groups. The city. Urban sociology
spellingShingle	HG Finance HG179 Personal finance HT101 Urban groups. The city. Urban sociology Arsyianti, Laily Dwi Kassim, Salina Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions
description	This paper aims to explore the role of Islamic social ﬁnance and ﬁnancial institutions in contributing towards improving ﬁnancial inclusion through ﬁnancial education among the poor. While there have been a lot of efforts undertaken by ﬁnancial institutions, especially microﬁnance institutions, to achieve the ﬁnancial inclusion agenda, the ﬁnancial inclusion programs would normally require high operational costs which many ﬁnancial institutions would consider them as not commercially viable. The costs then are transferred back to the customers, resulting in the ﬁnancing/ credit cost higher than commercial ﬁnancial institutions. As a result, incidences of bankruptcyincrease when the cost of credit is higher. Thus, ﬁnancial education is essential for average family in managing their day to day ﬁnancial resources. While ﬁnancial institutions keep busy with ﬁnancial inclusion agenda and trying to ﬁnd the best way without disturbing their core business agenda, Islam offers social ﬁnance institution (amil and nadzir) as the solution to this problem.
format	Article
author	Arsyianti, Laily Dwi Kassim, Salina
author_facet	Arsyianti, Laily Dwi Kassim, Salina
author_sort	Arsyianti, Laily Dwi
title	Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions
title_short	Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions
title_full	Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions
title_fullStr	Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions
title_full_unstemmed	Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions
title_sort	improving financial education to the poor at the bottom-of pyramid: the role of social finance vis a vis financial institutions
publisher	Universiti Sultan Agung, Semarang
publishDate	2016
url	http://irep.iium.edu.my/52253/ http://irep.iium.edu.my/52253/ http://irep.iium.edu.my/52253/1/52253_Improving%20financial%20education%20to%20the%20poor.pdf
first_indexed	2023-09-18T21:14:03Z
last_indexed	2023-09-18T21:14:03Z
_version_	1777411443739590656

Improving financial education to the poor at the bottom-of pyramid: The role of social finance vis a vis financial institutions

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